Big Four audit firm Ernst & Young released a report on Canadian cryptocurrency exchange QuadrigaCX revealing that the company has identified 6 cryptocurrency wallets used by QuadrigaCX to store Bitcoin that have been largely empty and devoid of activity since April 2018. Ernst & Young was appointed a monitor to the creditor proceedings of QuadrigaCX when the exchange announced at the end of January that it had lost access to $150 million worth of cryptocurrencies.

EY also reported that they have discovered 14 user accounts that “may have been created outside the normal process by Quadriga” and that “[i]t appears that the Identified Accounts were created under various aliases.” The report continues: “...the Identified Accounts were internally created without a corresponding customer and used to trade on the Quadriga platform. [EY] was further advised that deposits into certain of the Identified Accounts may have been artificially created and subsequently used for trading on the Quadriga platform.”